AMR Corporation (Dallas/Fort Worth), the parent of American Airlines (Dallas/Fort Worth) and American Eagle Airlines (Dallas/Fort Worth), yesterday filed its reorganization plan to exit its Chapter 11 reorganization with the bankruptcy court in New York. This is a necessary step towards a merger with US Airways (Phoenix). Under the plan, outgoing CEO Tom Horton would receive a $19.9 million severance plan. This amount was previously rejected by the bankruptcy judge Sean Lane.
The merger is expected to be closed in the third quarter. However there are many merger issues that are still unresolved.
Read the full report from Reuters: CLICK HERE
Copyright Photo: Tony Storck.ย Boeing 737-823 WL N803NN (msn 29566) of the “new American” arrives at Baltimore/Washington (Thurgood Marshall).



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